Kahala Aviation has completed the acquisition of two Boeing 757-200 aircraft equipped with winglets currently on lease to United Airlines in an equity deal.
Managing director Brad Smith says Kahala raised longer term institutional capital to finance the transaction.
“We expect to be a more significant participant in the used aircraft sector going forward in addition to our historic special situation focus,” he says.
The 1989-vintage aircraft (MSN 24623, 24871) are powered by Pratt & Whitney PW2037 engines.
The leases are medium term and Kahala still has to decide whether to convert the aircraft into freighters or sell for the part-out market.
Kahala Aviation also added Charles Graham to its board of
directors. Graham is the former chief executive of operating lessor AWAS and former chief executive of Global Aviation at DHL.